Monday, February 1, 2016

The Year In US Pharma Lobbying 2015: Pfizer Spent Double What Merck Spent -- And Mostly On "Tax Loophole" Wideners (Like Inversions, And Deferrals Of Income Taxes)

Last week, I mentioned in passing that Pfizer's quite tardy third quarter lobby disclosures report had put it on a pace to double Merck's spend. That Pfizer indeed did, by year end 2015. Spent more than double. And spent more than four times what Apple spent, did Mr. Read.

As I've long said and written, trying to garner corporate welfare, in the form of narrowly tailored tax loopholes (but only for the "more equal" pigs -- like Pfizer), is a pricey proposition. This year, it will be all about protecting the "Pfilergan" tax avoidance windfall -- for Mr. Read. Note the much more statesman-like approach that Mr. Frazier takes, in tax lobbying (click this link, for just one example) -- the difference could not be more striking. In any event, I wanted to note it for the record, now that the data is in. Here is the relevant bit:

. . . .Deferral

Comprehensive Tax Reform

Territorial Systems

Tax Extenders

Patent Innovation Box

Cadillac Tax

Inversions. . . .

As I say, Pfilergan will generally not be a focus of this blog -- but where the contrasts are stark (or the similarities striking, as well, I suppose), we will remark upon it. Like tonight.

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